All Forum Posts by: Robert Diamond

Thanks John,

That was my assessment too but I'm new to the game.

Thanks,

Robert

Hi Haley,
I think the market is "overheated" too so caution is advised.
If the property is well below market and when you run the numbers (a total MUST!) and its still cash positive.  Including reserve necessities, repairs, vacancy's and maintenance.  You could survive the market crash.  If you house hack (please check out the book and/or podcasts) and don't pay rent for years a sale at a loss might be a break ever.  And you would gain the credit rating needed for new houses experience as a landlord etc. 

Another point to mention is the need to set up a LLC for the renters leases so they don't have access to your assets is vital.

Just some fuel for the fire,

Robert

I'm a newbie from Manhattan with many years experience as a successful entrepreneur in the natural food business. I'm looking for my first house hack and it seems that the California market is overheated.  I've run the numbers on a few deals in San Diego (where I am) and having trouble getting a positive cash flow. 

I'm curious from experienced members what they think of the market conditions?

Wonderful to be here in the sun and nicer community!

Thanks,

Robert

Yes I understand its a "first world problem" as the new phrase goes.  But still being a good businessman I'd be grateful for some trained insights going in.

I need suggestions on the best approach to lenders. I owned a co-op apartment in Manhattan for 10 years.  And I'm founder/owner and ran my own successful natural food firm for 28 years.

We had double digit growth all but 1 year (9/11).

In my net worth statement should I include a year by year Corp. growth report from my CPA to show credibility?

I was at a convention a few years back and had everything hacked!

What is the best freestanding accounting software for under 10 properties?

Thanks,

Robert